Raisio Plc’s Interim Report January-September 2025 Raisio Oyj:n osavuosikatsaus tammi-syyskuu 2025 | Kauppalehti
And Kauppalehti’s view..
Raisio’s result exceeded expectations Raision tulos ylitti odotukset – Kannattavuus parantui selvästi | Kauppalehti
This was indeed interesting, that despite declining revenue, the result is growing. They are now doing something really right there. The share price increase that started from the lows of early last year will likely continue.
I own [shares], it might affect the view.
Also adding @Pauli_Lohi’s quick comments on the result, it also looks good from an analyst’s perspective: Raisio Q3'25 -pikakommentti: Vahvaa kannattavuuskehitystä - Inderes
And here’s Paul’s comment from this morning:
Target price raised from €2.6 to €2.8. Recommendation remains ADD.
SEB still on the buy side, from Kauppalehti’s quick news: SEB lowered Raisio’s share target price to 2.90 euros from 3.00 euros. Recommendation still buy
And the results are out…
Here are Pauli’s quick comments after Raisio published its results this morning. 
Revenue growth was stronger than expected, but the result slightly missed expectations. The company guides for revenue and comparable EBIT to strengthen during 2026, which is in line with our expectations. The Board proposes an increase in dividend payment, whereas we expected stable dividend development. Overall, we consider the Q4 report to be fairly neutral relative to expectations.
Pauli Lohi interviewed Raisio’s CEO Pasi Flinkman regarding Q4 and the company’s outlook, among other things.
Topics:
00:00 Introduction
00:15 Profitability in Q4
01:35 Continued growth driven by new products
03:10 Profitability of the oat dairy
04:37 Expansion of Elovena products into new markets
08:03 Heart Health marketing investments and their objectives
09:20 Guidance for 2026
10:36 Readiness for acquisitions
Here is the company report on Raisio in Pauli’s style.
The Q4 report moderately confirmed the outlook for the company’s organic growth in the coming years. Consumer sales are developing well through strong brands, most notably Elovena’s long-standing upward trajectory in the Finnish market. Additionally, the company has managed to offset the decline in revenue in lower-margin segments through competitiveness-enhancing measures. Earnings growth in 2026 may remain moderate due to the ERP project, but as high-margin brand sales progress, growth could be more strongly reflected in the bottom line from 2027 onwards. We reiterate our add recommendation and raise the target price to EUR 3.0 (prev. EUR 2.8) as growth prospects strengthen.
Greetings to everyone interested in Raisio. I am the CEO of Raisio and new here in the Inderes discussions.
I thought I’d drop by from time to time to listen in and provide background on the company’s public matters where appropriate. I won’t comment on non-public information, but I am happy to guide you to the right sources. Nice to be here.
@Pauli_Lohi timely reflections on the food industry, Raisio as a favorite in the turbulence: Inflaation kiihtyminen tekisi hallaa elintarvikealalle - Inderes
And thank you @pasi.flinkman for continuing Pekka Kuusniemi’s honorable line here on the forum.
Miksu and Pauli discussed the goings-on in the food sector, which should also be of interest to those following Raisio.
The prolonged war in Ukraine threatens to significantly increase costs in the food industry, affecting both primary production and the energy, packaging materials, and logistics used by factories. Analyst Pauli Lohi comments on the sector’s situation and companies’ outlook in the video.
This sounds like a good opening: Raisio Oyj: Benecol®-jogurttijuomat Espanjan markkinoille - Inderes
Raisio’s CEO @pasi.flinkman was interviewed by @m_jylha, a link to the new episode can be found here:
I was the first subscriber to Pörssipodikanava 
(link to the channel: https://www.youtube.com/@milttonpörssipodi), but Pörssipodi can also be listened to on Spotify etc.
Food company Raisio relies on its successful brands Elovena and Benecol as it pursues international growth. The trendy fibermaxx phenomenon, which encourages people to eat high-fiber food, provides a tailwind for oats. Last year, Raisio divested its acquired plant protein business. Why didn’t Härkis become a successful product for the company? Where could an acquisition target now be found that would create shareholder value? Interview with CEO Pasi Flinkman. He was met by Mikko Jylhä. The podcast was made in commercial cooperation with Raisio.
Topics:
00:31 About the food industry 06:12 Raisio today 25:50 Brands and Elovena 39:25 Benecol 47:53 About weight loss drugs 58:01 Plant proteins 1:02:27 Strategy period 1:12:37 Two share series 1:14:46 Why Raisio? 1:16:13 Ultramarathon as a sport
Elovena is often highlighted as a key brand for Raisio, but I was recently quite surprised at a K-store when I started counting the number of Elovena porridge, muesli, and other similar products. The sheer variety was almost overwhelming, but there seemed to be around 30 different items. Product development and ideation have clearly been pursued diligently, and such a volume provides significant shelf visibility. On the oat milk side, price competition seems to have emerged; in K Group stores, both the Swedish competitor and Elovena have gradually lowered their prices—from over 2 euros, if I recall correctly—to the current price of a few cents under 1.80 euros.
Here are Ronni’s pre-commentary ahead of Raisio’s earnings report on Tuesday, May 12th.
The earnings release, starting at 12:00 PM, can be followed here. We expect the company to deliver moderate growth in revenue and operating profit compared to an already quite strong comparison period. Our main focus in the report relates to the outlook, which has seen some grey clouds emerge due to increased inflation risks following the war in Iran. In our assessment, the company’s situation for the current year remains good, and should inflation accelerate, it would impact the year 2027 more significantly.
Raisio is securing its raw material supply, which is positive for farmers. However, it likely won’t have a significant impact on cash flows, as the payment term changes from 30 days to 14 days after grain delivery: Raisio Oyj: Raisio puolittaa viljatilitysten maksuajan vahvistaakseen elintarvikeketjua | Kauppalehti
It likely won’t have a massive impact on the company’s finances. But it sounds fair and is definitely good PR at the very least. 
Raisio has decided to speed up the payment schedule for all grain settlements, meaning farmers will receive payments faster for the grain batches they deliver. For decades, the practice in Finland has been that the farmer receives payment 30 days after delivering the grain batch to the food industry. Raisio is the first operator to decide to shorten the settlement period to 14 days for all crops when the grain is purchased directly from the farmer.
Raisio has purchased grain from over 700 farmers during recent harvest seasons, so the change in settlement time affects a wide group of farmers in Southwestern Finland.
The press release has already been picked up by a couple of media outlets:
JANUARY–MARCH 2026, CONTINUING OPERATIONS
There’s some nice growth across almost all lines there.
Adding a link here so everyone doesn’t have to search for it individually: Raisio Oyj:n osavuosikatsaus tammi−maaliskuu 2026 | Kauppalehti
From the CEO’s review: “Uncertainty in the external operating environment continued during the first quarter of the year. Consumer confidence remained fragile, and geopolitical uncertainty increased long-term cost pressures, particularly regarding energy, logistics, and packaging materials. The impacts on Raisio have so far been mainly indirect, and they are partly limited by our preparedness, contract structures, and our ability to pass necessary price increases into the market.”